TUG MEMBERS: Joining TUG does not automatically register you as a user of the TUG Bulletin Board. You must register yourself.


*ads are disabled when logged in as a member*
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 25 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
    Dismiss Notice
  3. TUG has now saved timeshare owners more than $10,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $10Million dollars
    Dismiss Notice
  4. Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
    Dismiss Notice
  5. TUG is trying out a new program that will trade you a TUG membership for a Timeshare resort review if you are an expired member, or even just a guest here on the forums!

    Read more here
    Dismiss Notice
  6. Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
    Dismiss Notice
  7. Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
    Dismiss Notice
  8. TUG has now joined Priceline.com as an affiliate!

    Members and guests who book air travel, rental cars and even Cruise Vacations thru TUG's priceline links will now support TUG in the process!

    Read more here
  9. A few of the most common links here on the forums for newbies and guests!
    Dismiss Notice

Timeshare resale process

Discussion in 'Buying, Selling & Renting Timeshares' started by seinfeld178, Jan 13, 2019 at 9:12 AM.

  1. seinfeld178

    seinfeld178 Guest

    Joined:
    Sunday
    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    1
    Hi - I am new to this website and a newbie to timeshares overall.

    I have agreed to terms with a seller to buy a resale and have a copy of the contract. There is a broker involved in the transaction.


    Can anyone point me to anywhere on the bulletin boards that describes what to do next before signing agreement? I couldn't find any details to help me. Thanks!
     
  2. tombanjo

    tombanjo TUG Member

    Joined:
    Aug 18, 2018
    Messages:
    85
    Likes Received:
    44
    Trophy Points:
    69
    I don't know if there is a one size fits all post on what to do next, as there are certainly different types of timeshares and therefore different considerations.

    In any case, the contract spells out your responsibility as well as the sellers. So no matter what you read online, you need to review and understand what you are signing.

    Some considerations

    1) If it is ROFR (Right of First Refusal)- that is the next step that must pass. You may be asked to put a deposit down while waiting for ROFR.
    2) You should have an estoppel that indicates EXACTLY what you are purchasing and fees, including past due, due and expected future. It should contain points, season and unit if it that type of timeshare.
    3) If there is a deed, it is free and clear and if a title search has been done.
    4) What is expected that you are paying, the price, and any fees for closing, broker, account set up fees, etc.
    5) If it ain't written in the contract, don't expect it to happen. No matter what you agreed in email, in person or on the phone, the contract is what matters.
     
    Last edited: Jan 13, 2019 at 9:44 AM
    CalGalTraveler likes this.
  3. dayooper

    dayooper TUG Member

    Joined:
    Apr 14, 2018
    Messages:
    562
    Likes Received:
    283
    Trophy Points:
    114
    Location:
    The Land of Ice and Snow
    Resorts Owned:
    HGVC at The Flamingo
    What are you buying? If it’s a system, there are individual forums here on Tug for most major systems and they will be able to answer most questions. They can also give a rough timeline to what will happen as well. As @tombanjo says above, the contract will tell you what your obligations are.
     
  4. Eric B

    Eric B TUG Member

    Joined:
    Jun 10, 2017
    Messages:
    978
    Likes Received:
    434
    Trophy Points:
    123
    Resorts Owned:
    Massanutten, Wyndham Bali Hai, Grand Luxxe
    CalGalTraveler likes this.

Share This Page